Monitor US JOLTS Job Openings to gauge future consumer spending and economic trends.
Job creation serves as a crucial leading indicator for consumer spending, which constitutes a significant portion of overall economic activity. Although its release occurs later than other data, it can influence the market since job openings are an early sign of overall employment.
What it Measures
The total number of job openings reported for the month, excluding those in the farming sector.
Usual Effect
If the 'Actual' figures exceed the 'Forecast', it is considered positive for the currency.
Source & Frequency
Bureau of Labor Statistics (latest release) - https://www.bls.gov/ • This report is published monthly, approximately 35 days after the month concludes.
How Data is Derived
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Also Known As
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Acronym
Job Openings and Labor Turnover Survey (JOLTS)